All Compliance Week articles in Web Issue – Page 1257
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Article‘FinCEN Files’ source sentenced to 6 months in prison for disclosing SARs
Natalie Mayflower Sours Edwards, a former senior advisor at FinCEN who provided 2,100 SARs to BuzzFeed News that would form the basis of 2020’s “FinCEN Files” investigation, was sentenced to six months in prison.
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SEC drops FCPA probe into Avianca
Avianca Holdings disclosed in a regulatory filing that the SEC has dropped its FCPA investigation into the company and will not recommend an enforcement action.
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ArticleBiden memo establishes fighting corruption as national security priority
A new directive released by President Biden instructs U.S. federal agencies to make combating corruption a national security interest. Compliance practitioners in the financial services industry, particularly, may feel the ripple effect
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ArticleSEC ousts PCAOB head William Duhnke; larger overhaul planned
SEC Chair Gary Gensler removed William Duhnke III as head of the PCAOB while also announcing plans to replace the entire board of the audit regulator.
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ArticleCompliance changing culture requires proactive collaboration
Compliance teams might recognize opportunities for changing culture. To do so, they need to adapt readily in both purpose and approach and embrace innovation.
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ArticleCCO settles SEC charges of causing firm to breach fiduciary duties
The SEC announced settled charges with the chief compliance officer of investment adviser VII Peaks Capital for her alleged role in causing the firm to breach fiduciary duties.
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ArticleAustralia’s NAB cited for ‘serious and ongoing non-compliance’ with AML laws
Australia’s financial regulator has identified “serious concerns” with National Australia Bank’s compliance with anti-money laundering and counter-terrorism financing rules but indicated it won’t fine the bank—for now.
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Options Clearing Corp. appoints chief risk officer
The Options Clearing Corporation, a derivatives clearing organization, announced the appointment of David Ye as chief risk officer and a member of its management committee.
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Article‘Cost of Compliance’ survey reflects post-COVID landscape
A year removed from the start of the pandemic, the long-term effects the shift in work culture will have on the compliance profession have become more apparent. The “Cost of Compliance Report 2021” by Thomson Reuters reflects these changes.
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USAA Real Estate names chief compliance officer
USAA Real Estate announced the appointment of Andra Purkalitis to its senior leadership team as executive managing director and chief compliance officer.
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ArticleSurvey: In-house counsel salary increases down amid pandemic
In-house counsel salaries across every industry took a hit in 2020 as a direct result of the coronavirus pandemic’s impact, according to the latest compensation survey by executive search firm BarkerGilmore.
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ArticleWhat might an overhauled PCAOB look to accomplish?
With no requirements for the PCAOB to feature a certain number of members from each political party, the SEC has the chance to staff the organization with a decidedly Democratic majority. What might such a Board set out to change?
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Loomis adds chief risk officer
Cash handling company Loomis Group announced the appointment of Stellan Abrahamsson as chief risk officer, effective March 1, 2022.
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Activision Blizzard recruits chief legal officer from Boeing
Video gaming company Activision Blizzard announced the appointment of Boeing’s Grant Dixton as its new chief legal officer.
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ArticleTech giants support G7 global minimum corporate tax agreement
Finance ministers from the G7 reached an historic international tax agreement that will impose a new global minimum corporate tax. Among those expected to be most affected are technology giants, but they say they support the move.
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ArticleHardball politics at play in leadership changes at PCAOB, CFPB
No federal agency is truly immune from politics—even the ones that are supposed to be independent. That is what’s playing out at the PCAOB and CFPB as Democrats utilize similar tactics coined by their Republican counterparts.
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ArticleJoe Murphy: Reflections of a compliance and ethics pioneer
Shortlisted for CW’s 2021 Lifetime Achievement award, Joe Murphy discusses blazing the trail in compliance and ethics, why incentives matter, and the single-most important skill of a compliance practitioner.
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ArticleStudy: Financial crime compliance costs climb 18 percent in 2020
Projected costs for financial crime compliance among financial services companies worldwide reached nearly $214 billion last year, according to the latest survey from LexisNexis Risk Solutions.
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A decade later, Dodd-Frank remains unfinished. Will Gary Gensler’s SEC close it out?
When the Dodd-Frank Act passed in 2010, an urgency existed to enact its many provisions. A decade later, 11 of its rules remain unfinished. Will a change in leadership at the SEC get the law across the finish line?
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Bitstamp appoints U.S. chief compliance officer
Cryptocurrency exchange company Bitstamp announced the appointment of Thomas Hook as its U.S. chief compliance officer.